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Broker closed my demo account

  • #1
  • First Post: Jan 5, 2016 8:52am Jan 5, 2016 8:52am
Hail the reader..

I have traded with FXCM for - (I think) about 3 months using a demo account, looking at various system options.
Today I was notified that my choices are to go live or to lose my demo account. A sort of threat I feel -
So needless to say when I do go live it will not be with them.

Please tell me which broker allows whatever time I require to get myself organised before being told that - if not live - lose the demo facility?

Thank you
  • #2
  • Jan 5, 2016 9:25am Jan 5, 2016 9:25am
Are you using the MT4 platform through FXCM ? If so, it should take 5 seconds to open a new demo directly from the platform.

If I am not mistaken, the demo becomes invalid only if no activity for 1 month ...
MT4/MT5 EAs/Indicators/Alerts coder
  • #3
  • Jan 5, 2016 10:28am Jan 5, 2016 10:28am
Quoting OldHand
Hail the reader.. I have traded with FXCM for - (I think) about 3 months using a demo account, looking at various system options. Today I was notified that my choices are to go live or to lose my demo account. A sort of threat I feel - So needless to say when I do go live it will not be with them. Please tell me which broker allows whatever time I require to get myself organised before being told that - if not live - lose the demo facility? Thank you
I have a MT 4 Demo account by this Broker for since 2 years?
(.)(.) think first ...
  • #4
  • Jan 5, 2016 12:43pm Jan 5, 2016 12:43pm
After joining this Forum, I have been reading some really interesting stuff that makes me confused, as why do broker cares how long we use demo? I mean is that broker got you alone as client? It is shameful for any company to force anyone to join. I would definitely never want to invest with such broker. I believe there are many brokers with which you can use demo as long as you like without any interference.
  • #5
  • Jan 5, 2016 1:35pm Jan 5, 2016 1:35pm
Quoting OldHand
Hail the reader.. I have traded with FXCM for - (I think) about 3 months using a demo account, looking at various system options. Today I was notified that my choices are to go live or to lose my demo account. A sort of threat I feel - So needless to say when I do go live it will not be with them. Please tell me which broker allows whatever time I require to get myself organised before being told that - if not live - lose the demo facility? Thank you
Thank you all for replying - I'll open a new one as suggested and see how I go.
  • #6
  • Jan 5, 2016 7:20pm Jan 5, 2016 7:20pm
Be aware that some mt4 brokers close your demo if you have 2 weeks of inactivity.

4x
  • #7
  • Jan 6, 2016 1:42pm Jan 6, 2016 1:42pm
Quoting Fedricks
After joining this Forum, I have been reading some really interesting stuff that makes me confused, as why do broker cares how long we use demo? I mean is that broker got you alone as client? It is shameful for any company to force anyone to join. I would definitely never want to invest with such broker. I believe there are many brokers with which you can use demo as long as you like without any interference.
Can you name a few please - I do not want to open a demo and after a few month be told my time is up.
Thank you
  • #8
  • Jan 6, 2016 4:41pm Jan 6, 2016 4:41pm
Quoting OldHand
{quote} Can you name a few please - I do not want to open a demo and after a few month be told my time is up. Thank you
IronFX demo should do the trick...I've been using it for almost a year now...It's one of the best Demo platforms over there, but don't even think about going live with them as they're a big scam...Regards
Simplicity is the key to brilliance.
  • #9
  • Jan 6, 2016 7:03pm Jan 6, 2016 7:03pm
Quoting OldHand
Hail the reader.. I have traded with FXCM for - (I think) about 3 months using a demo account, looking at various system options. Today I was notified that my choices are to go live or to lose my demo account. A sort of threat I feel - So needless to say when I do go live it will not be with them. Please tell me which broker allows whatever time I require to get myself organised before being told that - if not live - lose the demo facility? Thank you
Quoting Fedricks
After joining this Forum, I have been reading some really interesting stuff that makes me confused, as why do broker cares how long we use demo? I mean is that broker got you alone as client? It is shameful for any company to force anyone to join. I would definitely never want to invest with such broker. I believe there are many brokers with which you can use demo as long as you like without any interference.
Hi OldHand and Fedricks,

Unfortunately there seems to be some confusion here regarding FXCM.


Quoting FerruFx
Are you using the MT4 platform through FXCM ? If so, it should take 5 seconds to open a new demo directly from the platform. If I am not mistaken, the demo becomes invalid only if no activity for 1 month ...
Quoting maximumguita
{quote} I have a MT 4 Demo account by this Broker for since 2 years?
As FerruFx and Maximumguita have said, there is nothing to stop you from setting up as many free MT4 demos with FXCM as you want. Here's the link: http://bit.ly/1KHmsZ1


Quoting OldHand
{quote} Can you name a few please - I do not want to open a demo and after a few month be told my time is up. Thank you
I can't speak for other brokers, but FXCM allows you to demo trade for as long as you need.

If you have any further questions about your FXCM demo, then please feel free to ask me in our discussion thread: http://www.forexfactory.com/showthre...newpost&t=8960
  • #10
  • Jan 7, 2016 7:50pm Jan 7, 2016 7:50pm
Quoting trendyman
Why FXCM closed your demo account? I don't believe what you said​
As I know, the Demo account can only be used for 1 month, right? it is expired, not closed manually, so, why not create a new one? only 1 min, you can get one!
Get 90% Rebates Back, No Mark UP--->Check PIPREBATES--.--com
  • #11
  • Jan 7, 2016 8:40pm Jan 7, 2016 8:40pm
Quoting Pip-Tony
{quote} As I know, the Demo account can only be used for 1 month, right?
Not if you use it continuously ... Only inactivity makes it to expire.
MT4/MT5 EAs/Indicators/Alerts coder
  • #12
  • Jan 7, 2016 9:27pm Jan 7, 2016 9:27pm
As others have said, looks like inactivity may be the culprit here. Just open up a new demo account.
  • #13
  • Jan 8, 2016 2:31pm Jan 8, 2016 2:31pm
Hi OldHand,

OANDA will allow you to keep your demo account indefinitely, and is one of the few brokers who will allow you to trade on the demo as long as you'd like. In addition, you also receive:

- Beginner FX trading lessons via Trade with Precision
- AutoChartist - Automated technical Analysis (5 candle Delay)
- Unlimited MT4, Fxtrade and mobile use. FxTrade can be used to link to your MT4 account.
- Free API Access (Java/REST)
- Create up to 19 sub accounts (for different strategies, hedging etc)
- Fund in 9 different currencies (EUR, USD, CAD, JPY, CHF, AUD, GBP HKD, SGD)
- UBS and Dow Jones Research and economic news

You will also have access to FX specialists to guide you along the way if needed. Live accounts with OANDA require no minimums, so in effect, some folks like to trade with a very small amount to get a feel for real trading, which is always an option.

Cheers,
Disclaimer: Leveraged trading is high risk. Losses could exceed investment.
  • #14
  • Jan 9, 2016 10:43pm Jan 9, 2016 10:43pm
Quoting OANDARep
Hi OldHand, OANDA will allow you to keep your demo account indefinitely, and is one of the few brokers who will allow you to trade on the demo as long as you'd like. In addition, you also receive: - Beginner FX trading lessons via Trade with Precision - AutoChartist - Automated technical Analysis (5 candle Delay) - Unlimited MT4, Fxtrade and mobile use. FxTrade can be used to link to your MT4 account. - Free API Access (Java/REST) - Create up to 19 sub accounts (for different strategies, hedging etc) - Fund in 9 different currencies (EUR, USD, CAD,...
Thank you for your interest in my problem and your time to reply - I appreciate the help I get on this forum... someone advised to simply open a new demo in FXCM, which is what I did - but I also looked at Oanda, there are many good reports on the net about this company, so when I go live this would seem to be my preferred choice.
Thank you all for the replies and advice.
Regards
  • #15
  • Jan 10, 2016 11:55am Jan 10, 2016 11:55am
Most of the brokers allow to use the demo account for a limited time. Some brokers allow you to use it as long as it is active always. This is because the demo accounts utilized more resources of the server. They want to keep the server's resource limited.
  • #16
  • Jan 10, 2016 1:19pm Jan 10, 2016 1:19pm
Quoting OldHand
{quote} Can you name a few please - I do not want to open a demo and after a few month be told my time is up. Thank you
Try Octafx or Instaforex for demo at least. I was using Instaforex is past and I had demo account till 6 months after that I switched to Octafx where I have used demo account for over 4-5 months. Even currently I am trying few indicators from last 2-3 months on demo and as far I know till you are active you can use it as long as you wish. You just need to be active, if you are that then there won’t be any issue at all, but if you go inactive for over 1 month then you might find it been deactivated.
  • #17
  • Jan 11, 2016 11:52pm Jan 11, 2016 11:52pm
Without discussing any broker we can say demo account is for certain time period. Some brokers allow it for only one month some for several months and some had no limit to use demo account with them. So you have to trade as broker say you If one account is closed you can open another demo with any other broker . main purpose is trading practice you can get from everywhere.
  • #18
  • Jan 12, 2016 1:05am Jan 12, 2016 1:05am
Demo account could be closed for various reasons:
- Inactivity for a period of time
- After a certain time

But normally if it's active, they could last forever at some brokers. I opened an account with a binary broker, Option from 2014 and it still live so far, but the history was clear several times.
  • #19
  • Jan 14, 2016 6:40am Jan 14, 2016 6:40am
Quoting pinfire
Without discussing any broker we can say demo account is for certain time period. Some brokers allow it for only one month some for several months and some had no limit to use demo account with them. So you have to trade as broker say you If one account is closed you can open another demo with any other broker . main purpose is trading practice you can get from everywhere.
I believe you can add TradeWiseFx to the list, as they too have 1 month; it is pretty easy to operate the demo account here and I believe like you said, it is enough to practice for 1 month and then we can open another, but of course this is only for those who are willing to practice, but IF anyone is seeking to work out long term plans to show others then perhaps this is not enough.
  • #20
  • Jan 14, 2016 6:42am Jan 14, 2016 6:42am
Quoting OldHand
Hail the reader.. I have traded with FXCM for - (I think) about 3 months using a demo account, looking at various system options. Today I was notified that my choices are to go live or to lose my demo account. A sort of threat I feel - So needless to say when I do go live it will not be with them. Please tell me which broker allows whatever time I require to get myself organised before being told that - if not live - lose the demo facility? Thank you
I am surprised you used a demo for more than 2 months. Most brokers tend to close down demos after a month of inactivity,
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